This is the second internal actuarial report produced in relation to the forward liabilities of the welfare system. The purpose of the report is for the Chief Actuary to independently:
- review experience over the year in terms of exit rates, numbers of new clients and clients transitioning between benefits
- review overall performance of the welfare system and the effectiveness of investments made to reduce benefit dependency
- review and comments on the valuation of the forward liability
- identify areas for attention to assist in managing long-term benefit dependency.
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